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UK CASH DISTRIBUTION and the CARBON FOOTPRINT Public Version UK CASH DISTRIBUTION AND THE CARBON FOOTPRINT Public Version Ron Delnevo and Debbie Smyth, Cash & Card Consultants Commissioned by LINK 3 UK cash distribution and the carbon footprint December 2020 This study has been commissioned by LINK, recognising the importance of the UK cash distribution industry contributing to the country's work to achieve an overall reduction in the UK’s carbon footprint. All of the views expressed in this work are those of the authors and are not necessarily those of LINK. Client: LINK Title: UK cash distribution and the carbon footprint Report version: 1.1 Public Version Report date: December 2020 © Cash and Card Consultants 4 UK cash distribution and the carbon footprint December 2020 “We breached the global threshold of 400 parts per million in 2015. And just four years later, we crossed 410 ppm. Such a rate of increase has never been seen in the history of our records. The lockdown-related fall in emissions is just a tiny blip on the long-term graph. We need a sustained flattening of the curve”, Petteri Taalas Secretary-General of the World Meteorological Organization (WMO) upon issue of the WMO’s 2020 Greenhouse Gas Emission report 0 0 WMO Greenhouse Gas Bulletin (GHG Bulletin) - No. 16: The State of Greenhouse Gases in the Atmosphere Based on Global Observations through 2019. November 2020, available at: https://library.wmo.int/index.php?lvl=notice_display&id=21795#.X7u58c22lnJ%C2%A0 5 UK cash distribution and the carbon footprint December 2020 TABLE OF CONTENTS 1. EXECUTIVE SUMMARY 9 2. INTRODUCTION 2.1 WHY DOES THE CARBON FOOTPRINT OF THE CASH DISTRIBUTION INDUSTRY MATTER? 12 2.2 WHAT WE KNOW SO FAR 12 2.3 THE LINK BETWEEN CLIMATE AND CARBON 14 2.4 CLIMATE CHANGE AND CARBON FOOTPRINT 14 2.5 IMPACT OF COVID-19 PANDEMIC 16 3. PURPOSE AND SCOPE OF STUDY 3.1 PURPOSE 17 3.2 TIMING OF STUDY 17 3.3 SCOPE OF STUDY 18 4. COP26 4.1 SETTING THE SCENE 19 4.2 COP25 19 4.3 COP26 PLANS SO FAR 20 5. CASH AND ITS POSITION IN THE WORLD’S CARBON FOOTPRINT 5.1 SETTING THE SCENE 21 5.2 DATA CENTRES AND CARBON FOOTPRINT 22 5.3 PAYMENTS AND CARBON FOOTPRINT 23 6. THE IMPORTANCE OF POWER IN THE CARBON FOOTPRINT OF CASH DISTRIBUTION 6.1 CASH AND POWER 25 6.2 UK POWER SUPPLY 26 6.3 UK RENEWABLE ENERGY 26 7. THE SCALE OF CASH DISTRIBUTION IN THE UK 29 8. OPERATION OF CASH CENTRES 8.1 CASH CENTRE PURPOSE AND POWER USAGE 30 8.2 NOTE CIRCULATION SCHEME (NCS) 30 8.3 COINS 31 8.4 REVIEW OF WHOLESALE CASH DISTRIBUTION 31 8.5 DESTROYING AND RECYCLING BANKNOTES 31 6 UK cash distribution and the carbon footprint December 2020 9. TRANSPORTATION OF CASH 9.1 EXTENT AND PURPOSE 32 9.2 POWER USAGE IN CASH TRANSPORTATION 33 9.3 STEPS TOWARD CARBON NEUTRALITY OF CASH TRANSPORTATION 34 9.4 AIDS AND INCENTIVESTO ACHIEVE CARBON NEUTRALITY OF CASH TRANSPORTATION 37 9.5 KEY ELEMENTS FOR CARBON REDUCTION OF TRANSPORTATION OF CASH 37 10. OPERATION AND MAINTENANCE OF ATMS, COIN PROCESSING AND OTHER EQUIPMENT 10.1 AREAS OF DIRECT POWER CONSUMPTION BY ATMS 38 10.2 ATM POWER CONSUMPTION FIGURES 39 10.3 STEPS TO REDUCE OVERALL ATM POWER CARBON FOOTPRINT 39 10.4 WIDER AREAS OF ATM POWER CONSUMPTION 41 10.5 SERVICING OF ATMS AND OTHER CASH PROCESISNG EQUIPMENT 41 10.6 KEYE ELEMENTS FOR ACRBON REDUCITON OF OPERATION OF ATMS AND ASSOCIATED EQUIPMENT 42 11. CASH PROCESSING BY RETAILERS 11.1 USE OF CMOS FOR CASH PROVISION 43 11.2 USING CASH MANAGEMNT TO REDUCE CARBON FOOTPRINT 43 11.3 CASH RECYCLING 43 11.4 COINS 44 11.5 KEY ELEMENTS FOR CARBON REDUCITON OF CASH PROCESSING BY RETAILERS 44 12. THE LOCALISATION OPPORTUNITY 12.1 THE CURRENT SITUATION 45 12.2 A NEW MODEL FOR LOCALISATION OF CASH TRANSPORTATION 46 12.3 LOCALISATION OF OTHER ELEMENTS OF THE CASH DISTRIBUTION CYCLE 46 12.4 THE LOCALISATION MODEL BEYOND ATMS – BANK AND POST OFFICE BRANCHES 47 12.5 THE LOCALISATION MODEL BEYOND ATMS – RETAIL 47 12.6 KEY ELEMENTS FOR CARBON REDUCTION AND LOCALISATION 48 7 UK cash distribution and the carbon footprint December 2020 13. SUPPLIER AND THIRD-PARTY ENGAGEMENT 13.1 SUPPLIER ENGAGEMENT 52 13.2 THIRD PARTY ENGAGEMENT 52 13.3 EXAMPLES OF THIRD-PARTY ENGAGEMENT 52 13.4 KLEY ELEMENTS FOR CARBON REDUCTION VIA SUPPLIER AND THIRD-PARTY ENGAGEMENT 53 14. CONCLUSIONS AND RECOMMENDED NEXT STEPS 54 15. ABOUT THE AUTHORS 57 ANNEXES ANNEX 1 – ABBREVIATIONS 59 ANNEX 2 – TERMINOLOGY 62 ANNEX 3 – CLIMATE-RELATED COMPANIES, BODIES AND SCHEMES 65 ANNEX 4 – CLIMATE CHANGE TARGETS AND LEGISLATION 69 ANNEX 5 – IMPACT OF COVID-19 PANDEMIC 72 ANNEX 6 – CARBON REDUCTION 76 ANNEX 7 – COUNTRIES COMMITTED TO NET ZERO CARBON 79 ANNEX 8 – CASH ACCESS IN TH UK 81 ANNEX 9 – VOLUME AND FOOTPRINT OF NOTES AND COINS 84 ANNEX 10 – CARBON FOOTPRINT OF TRANSPORT 88 ANNEX 11 – CARBON FOOTPRINT CALCULATORS 90 ANNEX 12 – FURTHER READING (AND VIEWING) 91 ANNEX 13 – DETAILED SCOPE 94 8 UK cash distribution and the carbon footprint December 2020 9 UK cash distribution and the carbon footprint December 2020 1. EXECUTIVE SUMMARY Climate change is, quite literally, a hot topic. There is general agreement that reducing the carbon footprint is required to keep the overall temperature of the planet at acceptable levels. The UK government has set a target that by 2050, at the latest, the country achieves a net Zero Carbon footprint. Climate change is frequently called a “collective action problem,” meaning that victory requires participation from everyone. Every industry must play its part in reaching the net zero target. The UK cash distribution industry can be no exception. LINK has commissioned Cash and Card Consultants to review the current status of the UK cash distribution industry’s carbon footprint and make recommendations on the steps required to reach Zero Carbon. It is worth pointing out from the outset that common payments methods, including cash and card, have very low carbon footprints. However, that is no reason for these industries not to do their bit and this report sets out the priorities for cash. It is also worth emphasizing that both cash and digital payment methods have the potential to promote high levels of general sustainability and there is an important role for both. For example, cash spent and recycled in local communities has virtually no carbon footprint once withdrawn from an ATM. It can be one of the greenest of all payment methods. Digital, with the exception of highly environmentally destructive mechanisms such as Bitcoin, support many of the ways of living and working needed for a sustainable economy including much of the online world. It is worth emphasizing this role of payment choice in sustainability. The central issues for UK cash distribution are zeroing the carbon footprint of the ATMs themselves and the transport of cash. The use of renewable electricity is key to achieving those reductions alongside the localisation of cash distribution, including local recycling and cashback which would help to neutralise the carbon footprint of cash, reduce the costs of operating the distribution network and add to resiliency. Zeroing the carbon footprint associated with cash centres, branches, offices and ATM premises are other important, and less challenging, issues that need to be addressed. The UK power industry is moving towards achieving Zero Carbon emissions for electricity generation and distribution. The government has underlined the need for further progress by targeting that 100% of the UK’s electricity requirements are met by wind power by 2030. This is a tough challenge, though, and companies are encouraged to create some or all of their own renewable energy. A number of companies are earnestly engaged in this activity. 10 UK cash distribution and the carbon footprint December 2020 Another key to Zero Carbon footprint for power, is reducing consumption. The cash distribution industry must continue with efforts already started to reduce the electricity used by ATMs and the mileage driven to fill and service the ATMs. These moves have both positive environmental and reduced cost potential. This study contains recommendations as to how reduced consumption can be achieved. One obvious and speedy way of reducing power consumption is by avoiding unnecessary duplication of ATM services. By establishing a standard for average queuing times, 5 minutes, for example. ATM operators could then be asked to survey every site where they have more than one. Where removal of one or more ATMs would leave average queuing times at 5 minutes or less, the operator could be encouraged to remove machines which were surplus to meeting the required standard. Every thousand ATMs removed in this way should reduce the power consumption of the ATM estate by around 2% from 2020 levels. Progress to introduce electric-only vehicles in the cash distribution industry has been slow. Suitable vehicles are now being manufactured to allow the industry to go all-electric and are beginning to be seen in parcel delivery. A target of reaching this position by 2026 would be challenging but achievable. Localisation measures could also make a significant impact and these include: - Ensuring every community has local facilities for withdrawal and deposit of cash, both notes and coins; - Supporting and widening cashback and similar cash-in-shop initiatives; - The promotion of cash deposits in shops, both over the counter, and for larger volumes through cash deposit ATMs and terminals; - Machines used for depositing cash should be recycling-enabled wherever possible; - Implementing measures to reduce the use of coins; and - Increase local and online maintenance of equipment, including ATMs.
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